Kai Degner

Harrisonburg's Friendly City Food Coop Opens - Has Everything for a BLT You Can Feel Good About!
(Original Post)

It's been years of visioning, fundraising, planning, and hard work to get to a simple Facebook status update from Suzi Carter: "o-p-e-n." Anyone involved would immediately know what she meant: the Friendly City Food Coop is open! The downtown Harrisonburg grocery store is ready for customers.

I walked in and was given my Friendly City Food Coop Member Card, from a box that had over 1200 member cards still to give out (that's how many people became members before the store even opened! (no, you don't need to be a member to shop at FCFC)). I walked in hungry, which is always a mistake. It's amazing how much food and variety they've packed into the store!

I browsed the aisles before deciding to get the necessary ingredients for a BLT. The nice thing about that is I knew all the choices would be as local and healthy as possible. So, B = hardwood smoked bacon, L = green leaf lettuce, T = local tomatoes, and whole wheat bread (all organically grown) went into the basket - and a mere $15.10 trade gave me the BLT ingredients I needed to deal with this hunger.

(Apologies for the poor image quality - by the time I realized the pictures weren't so good, I'd already eaten my BLT.)

What are YOU buying in your first trip to Harrisonburg's newest grocery store, the Friendly City Food Coop?

Originally posted at KaiDegner.com

So, we’ve finished May – five months are complete in the Harrisonburg/Rockingham real estate market. This week, there’s been much national news about a home price “double-dip“, and I’ll explore whether that’s the case locally in terms of price in an upcoming post. For now, let’s just compare the first five months of this year’s real estate market with the first five months from last year using the number of units sold at various price points.

Take a look at the embedded summary image of number of properties sold vs their price. There has been a marked increase in the number of units sold priced at $125,000 or less. This suggests investors and others are confident and able to secure these lower priced homes. There was an 141% increase in number of homes sold priced between $75-100,000, and 60% increase in number of homes sold between $100-125,000.

And, then comes the rest of the market: all prices ranges from $125-300,000 saw fewer homes sold this year compared with the same period last year. One part of the explanation is the 2010 home buyers tax credit, which was a motivating factor in 2010 but was available in 2011.

The $325,000 and $400,000 price points show drop offs in number of homes sold in Harrisonburg and Rockingham County. No price range from $325-400,000 saw more than four properties sell this year, and no price range above $400,000 showing more than three units sold so far in 2011.

The spring season is one of negotiations and writing purchase contracts, so it remains to be seen how the units sold comparison will look through as we go through the summer months in Harrisonburg and Rockingham County.

Original Harrisonburg/Rockingham Real Estate Market Report posted at KaiDegner.com

The Harrisonburg/Rockingham real estate market report is showing a continued decrease in prices and an increase in average days on market for homes listed for sale. It remains a buyer's market!

Figure 1: The chart shows an increase in 2009 and 2010 similarly timed with April in 2011. (Source: Harrisonburg -Rockingham Association of REALTORS Multiple Listing Service, 5/09/2011)

Figure 1 shows a spike in the average and median prices of homes that sold in April 2011. Initially, that might suggest that prices are going up and that the market is turning around. However, the previous years show a similar spike in prices at the same time of the year, following by a decline in the following few months.

Figure 2: The last 12 months' average and median prices for homes in the Harrisonburg/Rockingham area continue to decline, though not as steeply as the national average. It remains a buyer's market! (Source: Harrisonburg -Rockingham Association of REALTORS Multiple Listing Service, 5/09/2011)

Figure 2 is a better clue for the overall average price of Harrisonburg/Rockingham real estate. This chart averages the average and median price from the previous 12 months. As is shown, the rolling 12-month Harrisonburg/Rockingham real estate prices continue a decent - meaning homes continue to be more affordable for people looking to buy or invest.

What does this mean for sellers?

For anyone with property currently listed for sale, they should pay attention to the declining prices and consider how competitively priced their home is. The average number of days residential real estate is on the market before it sells is 207 days - more than 6 months (Figure 3).

Figure 3: The average number of days on market for real estate listed for sale in the Harrisonburg/Rockingham area continued to increase in April 2011. Good pricing and marketing can make any single property an exception to this average. April 2011 showed an apparent seasonal spike in the Harrisonburg/Rockingham real estate market.

These charts are only overall averages, so any home currently on the market should be compared with data specific to its category (price, bathrooms, bedrooms, etc). For example, home below $150,000 are selling faster than homes over $300,000 - but a home in either category could sell much faster if it is priced competitively, it shows well, and it is marketed professionally. I recently listed a townhome that met these goals and was under contract in under two weeks - so success stories are still possible! The bottom line is this for sellers: be prepared to price competitively to sell your home in this market.

What does this mean for buyers?

Buyers have quite an opportunity in the Harrisonburg/Rockingham real estate market. The decline in prices make the average home more affordable. Interest rates remain near historic lows. Home-buyer incentives such as FHA loans require as little as 3.5% as a down payment. Many sellers are willing to pay some closing costs as an incentive to buy the property.

It is very likely a person could buy a home over $150,000 and move in for less than $5,000. Indeed, I recently helped a first-time home buyer purchase a foreclosed brand new townhome for ZERO down payment with a USDA loan - and due to the closing cost credit, he actually received money BACK at the closing table because he gave an earnest money deposit at the time of the offer!

If you are interested in buying a home or investment, or would like an analysis specific to your home, please contact me, Kai Degner, Harrisonburg/Rockingham real estate agent at kai.degner [at] klinemay.com or (540) 442-0316. Of course, feel free to use my custom home search tool at SearchShenandoah.com.

The Riddle House at 401 North Main Street in Bridgewater, VA, has a new price and is open to the public Sunday May 1 from 1-4pm - come see this beautifully restored home!

New Price! $429,000

4 Bedrooms, 2 Bathrooms, 3654 sf, 14 Paved Off Street Parking Spots, Zoned B1 Wonderful living and working space Perfect for a home, business, or bed and breakfast

A Must See!

The Riddle House combines the charm and richness of an historic 19th-century home with upgrades and zoning that allow a range of contemporary business uses – and this beautifully-renovated home is for sale.

Don’t miss this chance to own a historic home in the heart of the Shenandoah Valley! See photographs and watch the virtual tour.

Just announced by the Fairfield Center: the Shenandoah Sustainability Summit! This event will feature businesses that help homes and businesses operate most efficiently.

The Shenandoah Sustainability Summit is scheduled for April 23, 2011, and promises to be a Saturday focused on "Bringing Ingenuity Home" - Valley ingenuity, that is. Fairfield Center is hosting the Shenandoah Sustainability as an extension of its summit series of the past two years.

The event is free to the public, and pre-registration is requested using the form below or by visiting the official registration page.

Scheduled for the day after Earth Day 2011, the Shenandoah Sustainability Summit aims to bring together regional business and organizations with individuals in order to share practical solutions for living and working in a more economical manner.

Register Today

With only 200 registrations available and a growing outreach team, be sure to reserve your seat at the Shenandoah Sustainability Summit.

Do you have something to present or discuss? Host a Breakout Session!

Any attendee will be invited to created a 60-minute breakout session about a topic related to creating more sustainable living and working environments. People may present services, products, policies, tax-related information, incentives for certain technologies, hands-on training, and more. Sessions may also explore specific topics - no one needs to be an expert to convene a breakout session as others will come add to the conversation.

Is your organization or business doing sustainability-related work? Become a Partner!

Any organization or business may affiliate themselves with the Shenandoah Sustainability Summit by becoming a "Partner". It is free to be a partner. Partnership means your organization will promote the event to your constituency (e.g. membership or staff) and attend the event. In return, we will list your organization as a partner on the website and recognize you at the event.

Join the Table Expo!

For only $75, a business or organization can setup a table display at the summit. This is a unique opportunity to feature information to a highly engaged regional audience.

Become a Sponsor!

Fairfield Center is hosting this event and keeping it free for all who attend. Sponsorship helps cover costs and affords the sponsor high recognition at the summit and a table expo space. Sponsorships are available at $1000, $500, and $250.

Registration and Information is at the Official Shenandoah Sustainability Summit registration page